TOWER Federal Credit Union in New Jersey vs the state
29.1%Denial rate+11.41 pts vs state
30.8%Decision denial rate+7.79 pts vs state
63.0%Origination rate+7.31 pts vs state
7.00%Median rate+0.25 pts vs state
-0.23Rate spread (pts)-0.51 pts vs state
$202kMedian applicant income
223Loans originated
103Denied
Trend in New Jersey
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 370 | 193 | 36.2% | 7.00% | #115 |
| 2024 | 379 | 224 | 33.5% | 7.75% | #130 |
| 2025 | 354 | 223 | 29.1% | 7.00% | #146 |
What TOWER Federal Credit Union lends in New Jersey
By loan purpose
By loan type
Why it denied New Jersey applicants
Where in New Jersey
Counties with the most TOWER Federal Credit Union applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Ocean County | 50 | 29 | 16 | 32.0% |
| Monmouth County | 37 | 27 | 7 | 18.9% |
| Union County | 32 | 21 | 7 | 21.9% |
| Morris County | 32 | 24 | 7 | 21.9% |
| Bergen County | 29 | 16 | 10 | 34.5% |
| Burlington County | 24 | 12 | 10 | 41.7% |
| Essex County | 22 | 18 | 3 | 13.6% |
| Camden County | 19 | 13 | 5 | 26.3% |
| Middlesex County | 19 | 11 | 6 | 31.6% |
| Atlantic County | 16 | 9 | 6 | 37.5% |
Other large lenders in New Jersey
| Lender | Grade | Applications | Denial rate | Median rate |
|---|---|---|---|---|
| Rocket Mortgage | C | 16,339 | 16.1% | 6.75% |
| TD Bank | D | 12,532 | 26.2% | 7.49% |
| Bank of America | F | 12,142 | 30.6% | 6.00% |
| Citizens Bank | C | 12,113 | 28.9% | 7.40% |
| Crosscountry Mortgage | B | 12,042 | 5.3% | 6.75% |
| PNC Bank | D | 10,815 | 27.8% | 7.75% |
| United Shore Financial Services | B | 10,552 | 15.3% | 6.38% |
| Guaranteed Rate | B | 8,643 | 5.5% | 6.58% |
| Newrez | D | 6,535 | 22.5% | 6.99% |
| Loandepot.Com | D | 6,491 | 15.3% | 6.63% |
Frequently asked questions
New Jersey: 354 applications in 2025, of which 223 were originated and 103 denied.
29.1% of all applications, or 30.8% of the applications it actually decided on. The New Jersey statewide average across all lenders was 17.7%.
The median rate on loans TOWER Federal Credit Union originated in New Jersey in 2025 was 7.00%, against a statewide median of 6.75%.
About this data. Figures are TOWER Federal Credit Union's own HMDA filing for properties located in New Jersey, 2025. The grade is national; state-level figures are shown for context and are not separately graded. Methodology